‘Grey’s Anatomy’ actress Ellen Pompeo is set to develop a new ABC Family series based on the novel Debt. The 44-year-old actress will serve as the executive producer for ‘Debt’, based on Rachel Carey’s 2013 novel of the same name, according to The Hollywood Reporter.

Debt tells the story of a 20-something writer who works as a tutor to pay off her college loans and uncovers how all of the people she knows are in someone’s debt. It is described as a satirical look at the 2008 New York financial meltdown.

In 2011, Pompeo launched her production company Calamity Jane. Back in May, Pompeo and fellow ‘Grey’s Anatomy’ stars Patrick Dempsey, Justin Chambers, Sara Ramirez, Chandra Wilson and James Pickens Jr signed on for two more seasons of the medical drama. ‘Grey’s Anatomy’ creator Shonda Rhimes later revealed that she has no plans to end the long-running series yet.